Investing.com - The outlook for gold looks grim on the charts as a Fed December rate hike looms.
The precious metal was down 0.87% at 1,167.50 at 09:45 ET. Odds of Dec hike at 100%.
Weekly chart points to strong resistance at $1,300. Support at $1,225 now represents strong resistance.
Some hope in the fact that heavy selling pressure seems to be abating.
Longer term outlook remains bearish. A move below $1,160 could see support at $1,090 tested then $1,060 next year.